Dhaka, Bangladesh (BBN) – After climbing against the US Dollar (USD) for most of the week, the Euro (EUR) fell, following statements by ECB President Trichet endorsing Bernanke’s comments about a stronger Greenback necessary for US recovery.
The EUR finally traded at finally trading near 1.4900 at the end of the last week, according to the reports.
The Japanese Yen (JPY) fell against the US Dollar (USD), but rose again amid signs that Japan’s largest banks are facing pressure to raise funds, spurring investors to bring back earnings on assets abroad. JPY traded around the 89 level against the USD over the week, to settle at 88.92 on Thursday.
The British Pound (GBP) fell for a third day versus the dollar after reports that U.K. lenders are in a worse state than those elsewhere, with banks in the U.K. and in Europe still holding onto lots of non-performing loans. GBP traded as high as 1.6843 against the USD this week, settling at 1.6620.
Canadian Dollar (CAD) closed lower on Tuesday but a backdrop of stronger equities and firm prices for key Canadian exports helped it reverse much of an earlier drop to its lowest level in a week. CAD settled at 1.0685 against the USD on Thursday.
BBN/SS/SI/AD-21November09-12:11 am (BST)
